Clermont, FL - Heartland Dental

Description:

• The tenant has 11 years remaining on a 12-year lease with 4 (5-year) option periods to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation
• The lease is signed by the corporate entity
• Founded in 1997, Heartland Dental is the nation’s largest dental support organization with over 1,800 offices and 3,000 doctors

• The asset is located at the signalized, hard corner intersection of Golden Eagle Blvd & U.S. Highway 27 averaging 44,500 VPD
• Heartland Dental is part of a new retail center that features Mavis, McDonald’s, and more
• A new retail center is currently under construction across from the subject property on the Southeast corner of the intersection; the pads will feature The Learning Experience, Chase Bank, Big Dan’s Car Wash, a self-storage user, 1 retail pad, 1 QSR pad, and 1 multi-tenant pad
• U.S. Highway 27 a is major North/South retail and commuter thoroughfare serving Clermont and the surrounding trade areas
• Clermont has several new development projects under construction such
as Olympus, a 250-acre development directly across Highway 27 from Lake Louisa State Park. When the development is completed, it will include over 1,000 residential units, 1,300 hotel rooms, a conference center, and over a million square feet of sports and entertainment venues and space
• Clermont is currently growing at a rate of 3.62% annually and its population has increased by 16.26% since the most recent census